GS1 open standards promote interoperability of blockchain applications across supply chain networks.
Leverage GS1 standards in their blockchain applications for supply chain clients
GS1®, the global business communications standards organisation, today announced a collaboration with IBM and Microsoft to leverage GS1 Standards in their enterprise blockchain applications for supply chain clients.
GS1’s global standards for identification and structured data enable blockchain network users to scale enterprise adoption and maintain a single, shared version of the truth about supply chain and logistics events—increasing data integrity and trust between parties, and reducing data duplication and reconciliation.
Data stored or referenced by blockchain networks can be structured for shared communications and interoperability through the use of standards. For example, the GS1 and ISO open standards of Electronic Product Code Information Services (EPCIS) and Core Business Vocabulary (CBV) enable standardised exchange of data and item-level tracking.
Possibility of sharing data across corporate boundaries
“What attracts many organisations to blockchain technology is the possibility of sharing data across corporate boundaries while maintaining a high degree of rigor and accuracy,” said Robert Beideman, Vice President – Retail, GS1. “We hope to make this possibility a reality for businesses by working with dedicated technology and industry partners—and together promoting a common business language.”